The Social Security system was a boondoggle from the beginning.
It was never intended as a retirement activity. It was purely
another means to collecting tax from the worker.
It just so happened that the growth of population supported
the "Ponzi" scheme to the extent that Government officials
could at least plausibly defend that you will get your
"Investment" + growth when you retire.
Note that the retirement age did not leave much time to
enjoy the fruits of your "Investment".
So now the "Ponzi" scheme is collapsing.
What do we do.
1 - increase the retirement age! - less people for less
time will consume their "Investment" providing more
Investment for the Government Special Needs.
2 - increase the amount of money that each individual
"Invests". This will help the "Ponzi" scheme. It looks like
all is well. And the Government gets more Investment for
their Special Needs.
So what we are basically saying is:
Give us more money and we will give you less.
Any investment adviser will tell you paying more and getting
less is a really, really bad "Investment".
How about this idea!?
Drop Social Security all together.
Again, going back to the investment adviser, who will tell you
to get out of a BAD investment as soon as you can. Take the loss
and learn to not do it again.
Stop the S.S. TAX on employers and employees. Let them truly invest
this money on their own.
- Perhaps put it into a Health Savings Plan. Wow, that would solve two
problems at the same time.
-Perhaps use it purchase the American Dream, a house.
-Put a child through college.
-Start a business.
The options are unlimited when the money is kept by those that EARNED it.
In the off chance that any individual or family fails in their investment.
We already have Welfare. Don't like it? Don't fail at investing.
Social Security, was from the start a Tax which posed as an Investment, operated on the idea of a "Ponzi" Scheme.
Let us stop the insanity. Leave your "Investment" on the table. Drop the plan like a hot rock. Many times one has to say, "Wow that was a bad idea" and walk away.
This is that time.